SENSSUN(SZ:002870)2025-03-27 11:20Financial Performance - The company's operating revenue for 2024 was CNY 5,902,127,324.28, representing a 1.97% increase compared to CNY 5,788,141,431.75 in 2023[18]. - The net profit attributable to shareholders for 2024 was CNY 155,260,013.55, a decrease of 3.67% from CNY 161,181,345.35 in 2023[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 150,522,205.68, down 27.49% from CNY 207,599,870.83 in 2023[18]. - The net cash flow from operating activities for 2024 was CNY 712,595,483.63, a decline of 15.75% compared to CNY 845,807,044.81 in 2023[18]. - The total assets at the end of 2024 were CNY 8,136,121,250.11, reflecting a 6.45% increase from CNY 7,643,430,018.27 at the end of 2023[18]. - The net assets attributable to shareholders at the end of 2024 were CNY 1,605,447,064.91, up 5.84% from CNY 1,516,855,228.34 at the end of 2023[18]. - The basic earnings per share for 2024 were CNY 1.18, a decrease of 3.28% from CNY 1.22 in 2023[18]. - The weighted average return on equity for 2024 was 9.95%, down from 10.44% in 2023[18]. Industry Overview - In 2024, the automotive industry in China achieved a production and sales volume of over 31.3 million vehicles, with year-on-year growth of 3.7% and 4.5% respectively[28]. - The sales volume of new energy vehicles reached 12.9 million units, marking a year-on-year increase of 34.4%, with a penetration rate of 40.9%[28]. - The domestic sales of national brand passenger vehicles reached 17.97 million units in 2024, with a market share of 65.2%, reflecting a year-on-year growth of 23.1%[30]. Research and Development - The company is expanding its research and development capabilities, focusing on multi-functional charging and distribution products for eVTOL manufacturers[40]. - The company has established three major R&D centers in China, Germany, and North America, enhancing its global operational advantages[47]. - The company is focusing on smart cockpit product innovation and has successfully launched electric air outlet and smart surface products[65]. - The company is developing a new NACS charging port, expected to enter mass production by June 2025, aimed at expanding into the U.S. market[81]. - R&D investment increased by 17.75% from ¥457,603,872.01 in 2023 to ¥538,841,920.29 in 2024, with the R&D investment as a percentage of revenue rising from 7.91% to 9.13%[84]. Operational Efficiency - The company has transitioned to a digital and green factory model, improving production efficiency and reducing energy consumption[52]. - The company is focusing on reducing operational costs and reallocating resources to enhance competitiveness and shareholder returns[166]. - The company has reported a stable financial risk situation, indicating effective control measures are in place[165]. Governance and Compliance - The company adheres to governance regulations and has held four shareholder meetings during the reporting period, ensuring compliance with legal requirements[132]. - The board of directors consists of nine members, including three independent directors, and has established specialized committees to enhance governance and oversight[133]. - The company maintains independence from its controlling shareholders in terms of assets, operations, personnel, and finance, ensuring a complete and independent business system[137]. - The company has a robust internal management system, independent of its controlling shareholders, ensuring no interference in operations[138]. Environmental Responsibility - The company strictly adheres to various environmental protection laws and standards during its operations[183]. - The company has implemented a photovoltaic power generation project with a total output exceeding 1.5 million kilowatt-hours during the reporting period, contributing to energy conservation and carbon emission reduction efforts[196]. - The company has established a hazardous waste classification collection system and entrusted qualified units for disposal, ensuring no illegal disposal incidents occurred[192]. - The company is focused on maintaining compliance with environmental standards across all wastewater discharge metrics[188]. Future Outlook - The company plans to continue expanding its market presence and invest in new product development to drive future growth[69]. - The company anticipates significant business growth from new energy vehicle-related products, although changes in subsidy policies may adversely affect this sector[126]. - The company aims to enhance operational efficiency through strategic investments in technology and infrastructure[103].